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Larry Ellison, co-founder, and chairman of Oracle, is now the world’s fifth-richest person, with $136.2 billion

Tech Gist Africa by Tech Gist Africa
12/13/2021
in Tech Leaders, The Big 5, World News
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Larry Ellison

Larry Ellison

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Larry Ellison, the co-founder of Oracle, saw his fortune increase by about $16 billion as his company’s stock saw its second-best day in two decades.

According to Forbes, Ellison is now worth $136.2 billion, making him the world’s fifth-richest person.

Oracle’s stock soared 16 percent after the company reported better-than-expected quarterly earnings. According to Forbes, Ellison, the company’s largest shareholder with 1.14 billion shares.

Ellison has now overtaken Larry Page and Sergey Brin, the co-founders of Google.

He has moved into fifth place on the Forbes billionaires list, slightly ahead of Google’s Larry Page ($126.3 billion) and Sergey Brin ($121.7 billion).

Bill Gates is the fourth wealthiest person on the planet, with a net worth of $139.2 billion.

In late 2018, Ellison stated that he had acquired a $1 billion stake in Tesla. The market capitalization of electric vehicle manufacturers has surged about 1,300 percent over the last three years, and Ellison’s shares are now worth $16 billion.

Ellison, 77, earns a large percentage of his fortune from his Oracle stake, which has increased in value by almost $44 billion this year as a result of the company’s 59 percent stock price gain.

 

Read more on Tech Gist Africa:

After Tesla shares slipped, Jeff Bezos overtook Elon Musk to reclaim the title of world’s richest person

Elon Musk has become the first person in history to have a net worth of more than $300 billion

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